Attention investors and contractors! This 4-unit property at 5319 Ivanhoe St, Detroit offers a strong value-add opportunity with major improvements already started. The property is currently mid-renovation, giving the next owner the chance to step in and complete the project while building significant equity. Three of the units have been… Read More taken down to the studs, providing a blank canvas for a full renovation. One unit is approximately 70% complete, allowing the next owner to potentially finish and stabilize the property sooner while completing the remaining units. Key updates have already been completed, including a new roof, new water tank, and new furnace, helping reduce major upfront costs and giving investors a head start on the rehab process. This property presents multiple investment strategies, finish the renovations and create a cash-flowing multifamily rental, add it to a long-term portfolio, or complete the project for resale. With strong rental demand in Detroit and the ability to design the remaining renovations to your specifications, the upside potential is significant. Opportunities like this are ideal for experienced investors, builders, or contractors looking to take over a project that already has important improvements completed. Read Less
Courtesy of LPT Realty, LLC.
Listing Snapshot
Days Online
33
Last Updated
Property Type
Multi-Family
Square Ft.
4,000
Lot Size
0.16 Acres
MLS Number
60978339
30 Days Snapshot Of 48204
$1k
-19%
(avg) sold price
1
0%
home sold
25
+4%
(avg) days on market
Snapshot
Area Map
Additional Details
Property Access
Paved Street
Basement
Block
Building
4,000 square feet, 4 total units, Built in 1924, Style: 2 Story
Foundation
Basement
Water Features
Public Water
Heating
Natural Gas, Forced Air
Income
Net operating income: $0
Lot
Lot size: 56.9X120, 0.16 acres
Taxes
Total amount: $1,741
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